1. DECIDE WHETHER YOU CAN WORK IN THIS MODE RIGHT NOW
Carrying out cargo transportation on your own is a big responsibility that requires special attention and truck dispatch training classes. Therefore, you need to answer a few questions for yourself:
Do you enjoy spending long periods of time on the road? Although it is not always necessary to be away for several weeks or months, you need to be prepared for this. This is a real way of life. Decide for yourself whether you enjoy spending so much time on the road or whether a long flight will tire you both physically and emotionally.
How long can you be away from home? Find out who can receive mail for you and handle urgent matters. If you own a house and live alone, someone should check it at least once a week to make sure the wiring, plumbing, etc. are working. Take advantage of specialized services that provide the necessary services on a regular basis in your absence.
What family obligations do you fulfill? If you are in a relationship, make sure that your significant other understands the specifics of your work and is ready to put up with it. Be prepared to plan your flights with other important things in mind. Mentally prepare for the fact that you will often miss important events in the life of the family and celebrate many holidays on the road.
Can you balance driving with running a business? If you want to be your own boss, you have to do everything a boss does, plus drive a truck. You have to focus on several tasks at the same time: draw up documents and find cargo.
2. EVALUATE YOUR HEALTH
Make an appointment with a physical therapist and take a blood test for a basic metabolic panel. Your doctor can help you evaluate your overall health, and related tests can tell you more about your heart, glucose levels, important organs, and more. It is difficult to maintain a healthy lifestyle when you are on the road for a long time. Make sure you don’t have any comorbidities and make a plan for eating right and exercising when you’re on a flight.
Create a business plan, think over the tactics of doing business, this will help you focus by setting the necessary goals and defining a long-term plan for the development of your trucking company. Business plan templates can be found online, but any good plan should include:
Detailed overview of your company.
Description of the services you will provide.
Your difference from competitors.
Your work experience.
Financial prospects for the future.
Having a business plan will also help you get a loan to start your own trucking company.
4. DECIDE WHETHER LEASING IS RIGHT FOR YOU
You need to decide whether to purchase freight transport using leasing or try not to get into debt and rely only on your own strength. In total, there are three main scenarios for the development of events in this regard:
Rent a Vehicle: Sign a lease or lease-to-own agreement to receive a truck through a private carrier or third-party leasing company. This is the easiest way to get a truck with a minimal down payment. Be aware that some of these contracts limit your decision making, while others make it difficult for you to ship your equipment to other carriers.
Buy and lease transport: Buy equipment and machinery (directly or through a loan) and lease it to a freight forwarder to use its transportation operational capabilities. You will have limited control over the rented equipment.
Become an independent carrier: open your own company and work for yourself. So you will get more freedom and profit, but you will have to perform many functions. You will need to develop your own client base, work with message boards and use all the tools for finding orders.
Choose the right truck
Are you buying a new expensive truck with a warranty? Or a used truck that costs less, but you may have to invest extra money for repairs? Are you buying a refrigerator or flatbed? Start exploring the benefits of used and new trucks. This is the most important stage at the stage of planning the opening of your own company.
Once you’ve narrowed down your choices and settled on certain models, look into fuel consumption and maintenance costs. Buying a truck is a long-term investment and with the right approach, you can save a lot of money and time.
6. CONSULT YOUR ACCOUNTANT
You will need to determine the business structure, tax system, and accounting method. Meet a reputable accountant and talk to him about your business. A competent specialist will help with the documents and determine the most appropriate business plan. An accountant can also help with a quarterly tax filing system to ensure compliance with laws.
7. DETERMINE YOUR BUDGET
Ensure your financial success by creating a personal budget. Your main goal is to earn the necessary amount of money to support yourself, your family and business development.
A personal budget will include a mortgage or rent, utilities, paying monthly expenses, and more.
The business budget will include fuel, taxes, truck maintenance, insurance, and so on.
You need to plan both budgets!
Start using specialized software to keep track of all expenses (fuel, insurance, food, etc.). Proper accounting of the budget will allow you to quickly solve any financial problems in the process of work.
8. BUILD AN AIRBAG
You need to consider all operating costs and try not to get into debt. For the first 60 days from the start of work, it is necessary to protect yourself and have a certain amount of money in reserve, which will help to cope with unforeseen circumstances, cover fuel and vehicle maintenance costs, until funds for completed orders begin to arrive.
9. MAKE RIGHT BUSINESS DECISIONS
Decide how you are going to perform day-to-day business-related tasks:
Determine how to bill customers. A simple solution is the transport management system (TMS), which creates invoices/acts/invoices, automates reporting, provides detailed information about the operations performed.
Think about how you are going to conduct money transactions when you are on the road.
Find a factoring company. Factoring is when you place your accounts under the management of a third party financial company that collects payments on behalf of your company. This means you can get paid faster. 2082.ru specializes in factoring for truck drivers.
10. FIND A GOOD LOGISTICS PLATFORM
If you’re going to do your own sourcing, you’ll need a good logistics platform you can rely on. Use proven services where you can quickly find the right size cargo and ensure uninterrupted operation for your transport.